Trade in your life

support surrounding
Around to support you in your trade? They think that this is gambling? They believe that it is impossible to earn a living? They have unrealistic expectations of your success? Or they quietly, confidently, to support you until you go to your plan to be a consistently profitable trader?

Talk:

"It was trading today?" she asked neutrally.
"Well," he said.
"How well? You made money today, as yesterday?"
"None. All went well until 2:30 when the news came out, some, and I missed them and lost all the profits."
"So finally you finished the day in the black?"
"None. I lost four points on the S & P"
"Why are you only now talking about this?" she asked, raising your voice. Why do not you just say "I lost $ 1,000 today!"
"Trading one day nothing says," he parried.
"None. This suggests that you throw money into the wind. You sit here all day, losing money. You will study the market throughout the night just to throw money at the next day."
"Listen dear, I need your support. I am. It takes time to become consistently profitable. Please do not Dawi for me."
"To become a consistently profitable. You - has failed. You - consistent player. I support you." I ask you to contact the society of anonymous players, and get help there. Because it is - a disease. "
"Honey, please, stop it. Help me to move to their happiness and be successful in this."
"Your happiness destroy us. I can not support you."

After that conversation, all he could do - is to leave the trade.

It is quite difficult - to sell, if people close to you do not support your efforts. Some traders are afraid to take a loss - and we know what it may lead. Another lacked the confidence to press the "trigger" - and we also know what it could. A third misunderstanding occur with close because of their trade, and they continue to trade, feeling depressed. It goes without saying that trade is no different from any other important activities: you want the people closest to you are on your side when you have ups and downs in this one of the most volatile professions.

The danger of the Ego for trade
The risk your ego in the trade is that it lets you see what is happening in reality and lets you do those things which should be promptly made.

What is ego? If ego appreciates everything that happens in relation to you, then, of course, it hurts your trade. If your attention is focused directly on you and it means that if you make money or lose money, you are right or wrong in their assessment, you do not concentrate on what is directly connected.

You should focus on the market and their methods, rather than on himself. Opportunities are limited in that consciousness, what it can concentrate. If you think directly about themselves, rather than the actual sale, you can easily miss important points.

Do not make mistakes due to the fact that if your fragile ego and you have to maintain themselves through trade. In this case you will have the dual problem. Your self-esteem will be affected. And your trade will stall.

Traders who want to demonstrate how they are significant, would tend to exceed the optimal trade regime, both in terms of the size of positions, and the frequency of the transactions. While they may have some significant gains, but ultimately, this trade will destroy their own expense.

Trader, who wants to protect his ego from the fact that it had not been disadvantaged in the event of an incorrect decision or losing money, will tend to oscillate when they enter the market. Consciously or subconsciously, he will think that will happen is something terrible, if it is wrong or lose money. Therefore, it is natural that it would delay its entry into the market, are not yet sufficient evidence. He or miss a good deal, or, worse still, would haunt her, after is too late.

Any method of trade needs to be consistency, so that the likelihood is not lost value. If your ego is confronted with a consistent application of probability, you, in fact, done to conclude the transaction and receive occasional random results, or lose money.

There are numerous examples of traders who got in trouble because of a bloated ego or dangerous. The first example - Nicholas Lison, a trader who destroyed "Barings Bank", exceeding the allowable amount of trade. His ego forced him to violate every rule, described in the book (and in the bank). He was so involved his ego, which ignored the direction and strength of the market.

Another example - Victor Nayderhoffer, which led to hedge fund losses. In his book "Education Speculators", he writes:

"I - the old trader, and I am selling yen in the foreign exchange market. I once had the best record among all traders. I appreciated as the best in their field, and my picture was in all the newspapers. Customers throng my door. Currency brokers said me, where were placed a stop-order and their clients, and where central banks placed orders to buy and sell. Great Soros has repeatedly called me to trade on his own account ".

"But I made a mistake. I bought dollar when the dollar to the yen was 93. It went on for 88 hours. I was eaten alive. Banks will not give me more credit, and many of my clients have left. I still There are several private clients, who do not want to invest all his money in the stock market. They are afraid that it will collapse, as it was in 1929 and 1987. They call me to get more revenue, but without the risk or recessions. I I can do it, but they do not want me to risk, but I can not do it without risk. The risk of an opportunity. However, I am humble because I lost many times. "

He was not modest enough. His record strongly favored ego. He claims to moderation, but it is, even after writing all the above, came to the fact that his fund was in the loss.

How do you as a trader can overcome problems that may cause the ego? Above all, maintain the state of distance itself from its trade. When you are separating themselves from the trade, you can say, "This is - my trade. This is - I am." Understand that you are more than your trade. It is easy to become what we are doing and judge yourself accordingly. We must separate our behavior from our essence. "This is what I am doing, and this is who I am in reality."

Do not confuse the result of trade with your own self. Keep your self in the future, regardless of whether or not you reach a certain goal.

Log in to contact with its own essence. Our human nature extends far beyond our ability to achieve this goal within a specified period of time. Just make sure to comply with anything in accordance with their best abilities.

Treat mistakes as experience and umeyte to forgive yourself. Explore the past mistakes and make it part of your future study of the basic rules and principles.

Evaluate yourself. Pay attention to what you are doing right. Pay attention to moments in which you are correct. This will increase your own self, and when you appreciate yourself, your ego will be more healthy and elastic, and you can keep it away from your trade.

What if you could separate your ego from your trade and realize that you're much more than your trade?

Willingness to create wealth

"Wealth begins with thought."

Michael Hall

When you think about wealth, what do you think? Take a break now, and note how the idea first come to you in the head.

When you think about the richness of what you feel? Stop for a moment and enter into contact with your feelings on wealth.

Each of us has a different association with wealth. Some sense of responsibility, when they think of the wealth of - liability, multiply, and defend it, or the responsibility to make it something worth sharing. Others think of the freedom and independence. Some thoughts on security. Someone thinks of luxury cars and luxurious mansions and the corresponding social status. And some feel that wealth meant little materialist concern and thus prevents the "true spirituality." In extreme points of view, one sees the wealth as the highest good, while others see it as corruption, or even evil.

Since the purpose of trade is to create wealth, or at least, earn money, then it is essential to how you, as a trader, interpretiruete accumulate financial wealth. If you feel in the subconscious that there is something wrong or selfish, and evil in the accumulation of financial wealth, then you and the market, working together, can find a way to reduce or eliminate your benefits. Trade - this is not the place for those who are in an internal conflict about the meaning of earning money.

I know one trader who feels the growing domestic pressure, when he wins. He was aware that he definitely did not steal this money from another trader just because he wins. He realizes that he must earn money for themselves and their families. And yet, in the subconscious, it takes money from others, when the wins, and feels in connection with the awful. When he starts to give it, ie, play, he begins to feel a kind of relief. This trader has a limited theory of the pie of wealth - if something is not enough for all, then it is better than others?

One trader once came to me. He did about $ 5,000 a day, trading on the New York Stock Exchange, and I want to make $ 10,000. It seemed to me an easy task. If you can make $ 5,000, you'll be able to make and $ 10,000. Unfortunately, the trader assess themselves $ 5,000. In addition, $ 5,000 of his father. He had to withdraw from these psychological limitations.

When I spoke about this situation, his colleague, she said, "Ra is - ugly desire of money, it is unnatural!"

I replied, "That's why I work with the traders. I will always help people to become thinner, healthier and wealthier." Always check the value of your mentor in the trade.

Next, we explore the beliefs that support wealth creation. In the meantime, ask yourself, "there is something in my belief that, as I believe, prevents the establishment and maintenance of wealth?" There are some ideas and harmful thoughts, which can cost you money your entire life.

Beliefs that support the creation of wealth

"It does not matter, it is true or not, is important only that you have the conviction that you want to do it all the fiber of his soul."

Richard Bendler

Persuading more than thought. In the end, you can of something to think and not to believe it. And you can believe in something and not think about it. One thing, however, quite definitely. Your beliefs create what you feel that this was possible and worthy of attention. Your beliefs will limit and inspire action. And action will lead to good or bad results.

The study of people who have accumulated considerable wealth, shows that they hold certain beliefs. Many of these beliefs were represented by Michael Hall in "The Structure of Wealth." Others I have added their own observations.

• I will control their own destiny.
• Success is not built on success. Success is built on the failures, problems and even disaster.
• I feel confident that I can do something that has set itself to do.
• I know why I want to earn wealth.
• I am sure taking steps to make my goals a reality.
• It is important to develop clear and defined objectives and go to them.
• There are no restrictions on the amount of money that I can do.
• I can solve any problem.
• I have become stronger and more wise every day, when confronted with risk and disaster.
• I want to pay their debts. I do not expect that will start up immediately.
• Regardless of what happens, I can find a solution.
• If I do not risk anything, I will not get.
• Money - it is a resource that can not be lavish.
• Money - it is good and can create an even greater benefit.
• There is a huge number of opportunities around to achieve wealth.
• It is increasingly a ready wit is to be able to learn.
• Accountability - the key to mastery.
• I wish to work hard to achieve what I believe.
• I love what I do - it is a privilege to do so!
• Nothing is impossible.
• I want to succeed.
• I deserve to succeed.
• I preuspeyu: I would be the best.
• I will do the necessary work and play to succeed.

Underlying these ideas is the creation of wealth attitude of confidence, responsibility and enthusiasm. Close to these beliefs is a sense of unlimited potential. In his book "The Exclusive Trade: a game of thought," I bring a list of three pages containing certain beliefs that support a trader in wealth creation. Beliefs that you hold, or move you to success or will deter you in the movement to success. Simply put, it is necessary to adhere to certain beliefs in order to achieve success.

Forex Magazine
based on www.marketmavens.com